Massive $114
Bilion withdrawals from 25 Largest US Banks in the 1st Week of JAN 2013
It appears that the
expiring expanded FDIC insurance has in fact triggered a massive deposit
withdrawal at the nation’s largest banks, as the Fed is
reporting that $114 billion were withdrawn from the largest 25 US banks over
the first week of January, the largest fund outflow since the 9/11 attacks, even
exceeding the pace of the outflow during the 2008 financial panic! -- See
report below
30 Jan 2013
The US bank run was forewarned last year
The US bank run was forewarned last year
and now
its happening!!
This is what was forewarned late last
year as everyone was focusing on the phony so-called "fiscal cliff,"
yet there was something occurring with the main banks and nobody seemed to
report or notice this.
This was then late last year:
US
BANK RUN IMMINENT AS FDIC EXPANDED DEPOSIT INSURANCE ENDS DEC 31ST
With the
media fixated on the fiscal cliff, no one seems to be noticing the fact that
the FDIC’s expanded 100% coverage for insured deposits ends January 1st, 2013.
Submitted
by SD Contributor AGXIIK:
As of
January 2013 the FDIC stops offering 100% coverage
for all insured deposits. That amounts to $1.6 trillion
in deposits, 85-90% deposited with the TBTF mega banks. Once the
insurance ramps back to $250,000 the FDIC risk amelioration offered to large
depositors will cause them to flee from the insecurity of the much reduced FDIC
coverage. This money will rotate immediately into short term
Treasury securities. The treasury, in order to handle this flood of
money, will immediately offer negative interest rates. This financing
will resemble the .5% negative interest rate offered by the Swiss and Germans
on the funds flooding to their banks from Spain, Greece and Italy.
This will be a bank run much larger than the Euro banks flight to safety.
This will be a bank run much larger than the Euro banks flight to safety.
Then this is what occurred this year while Wall Street was
celebrating with the short-term so-called "fiscal cliff" deal:
BANK
RUN IN PROGRESS? MASSIVE $114B WITHDRAWN FROM 25 LARGEST US BANKS FIRST
WEEK OF JANUARY!
SD contributor
AGXIIK warned readers months ago about the
FDIC’s expanded deposit insurance which was set to expire Dec 31st,
predicting that the expiring expanded deposit insurance enacted in the wake of
the 2008 financial panic could trigger a bank run.
Many scoffed at the report
and its implications, due to the fact that the story received zero attention by
the likes of Bloomberg, CNBC, or even ZH.
It appears that the
expiring expanded FDIC insurance has in fact triggered a massive deposit
withdrawal at the nation’s largest banks, as the Fed is
reporting that $114 billion were withdrawn from the largest 25 US banks over
the first week of January, the largest fund outflow since the 9/11 attacks, even
exceeding the pace of the outflow during the 2008 financial panic!
So once
again we are being duped by what is really going, unless us
"watchers" continue to report on what is really going on.
And like
Randy, who does an incredible job on reporting on the markets and the
economy, says "All the dominoes are lined up. The
only thing that will cause them to fall will be the "Rapture," and I
agree, but after this incredible US bank run, there really isn't much time
left; maybe weeks or months at the most, then "BOOM,' we are gone!!!
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